InterDigital, Inc. $IDCC Shares Sold by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS cut its holdings in shares of InterDigital, Inc. (NASDAQ:IDCC) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,161 shares of the Wireless communications provider’s stock after selling 900 shares during the period. KLP Kapitalforvaltning AS’s holdings in InterDigital were worth $2,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in InterDigital during the first quarter valued at approximately $32,000. Banque Transatlantique SA acquired a new stake in InterDigital during the first quarter valued at approximately $33,000. Headlands Technologies LLC acquired a new stake in InterDigital during the first quarter valued at approximately $35,000. Concord Wealth Partners acquired a new stake in InterDigital during the first quarter valued at approximately $37,000. Finally, Global Wealth Strategies & Associates acquired a new stake in InterDigital during the second quarter valued at approximately $38,000. 99.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other InterDigital news, CTO Rajesh Pankaj sold 1,000 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the chief technology officer owned 65,122 shares in the company, valued at $22,016,445.76. This represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua D. Schmidt sold 466 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $273.12, for a total transaction of $127,273.92. Following the completion of the sale, the insider owned 28,370 shares of the company’s stock, valued at approximately $7,748,414.40. The trade was a 1.62% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,466 shares of company stock valued at $1,016,164. Insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IDCC. Roth Capital increased their target price on shares of InterDigital from $270.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, September 12th. William Blair reissued an “outperform” rating on shares of InterDigital in a research note on Monday, September 22nd. Weiss Ratings restated a “buy (b)” rating on shares of InterDigital in a research report on Saturday, September 27th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $340.00 price target on shares of InterDigital in a research report on Monday, September 29th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, InterDigital presently has an average rating of “Moderate Buy” and a consensus price target of $345.00.

InterDigital Stock Down 2.4%

Shares of NASDAQ:IDCC opened at $339.90 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.96 and a current ratio of 1.96. The company has a market cap of $8.77 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 1.67 and a beta of 1.44. InterDigital, Inc. has a 52 week low of $144.46 and a 52 week high of $361.56. The firm has a 50 day simple moving average of $303.05 and a 200 day simple moving average of $246.28.

InterDigital (NASDAQ:IDCC) last released its earnings results on Thursday, July 31st. The Wireless communications provider reported $6.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $3.75. InterDigital had a net margin of 51.92% and a return on equity of 53.44%. The company had revenue of $300.60 million during the quarter, compared to the consensus estimate of $167.93 million. During the same quarter in the prior year, the firm earned $4.57 EPS. The company’s revenue was up 34.5% compared to the same quarter last year. InterDigital has set its FY 2025 guidance at 14.170-14.770 EPS. Q3 2025 guidance at 1.520-1.720 EPS. As a group, research analysts expect that InterDigital, Inc. will post 9.21 earnings per share for the current year.

InterDigital Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, October 8th. This is a positive change from InterDigital’s previous quarterly dividend of $0.60. InterDigital’s payout ratio is currently 19.96%.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.